Microfinance, also called microcredit​, is a type of banking service provided to low-income individuals or groups who otherwise wouldn’t have access to financial services. List of Licensed Microfinance Banks in Kenya 2024

While institutions participating in microfinance most often provide lending—microloans can range from as small as $50 to under $50,000. But many banks offer additional services such as checking and savings accounts as well as micro-insurance products, and some even offer financial and business education.12 The goal of microfinance is to ultimately give impoverished people an opportunity to become self-sufficient.

• Microfinance is a banking service provided to low-income individuals or groups who otherwise would have no other access to financial services. 
• Microfinance allows people to take on reasonable small business loans safely, in a manner that is consistent with ethical lending practices. 
•  The majority of microfinancing operations occur in developing nations, such as Bangladesh, Cambodia, India, Afghanistan, Democratic Republic of Congo, Indonesia, and Ecuador, among others.3
• Like conventional lenders, microfinanciers charge interest on loans and institute specific repayment plans.
• The global microfinance market was valued at an estimated $187 billion in 2022, and is expected to exceed $488 billion by 2030.4

List of Licensed Microfinance Banks in Kenya 2023-2024